What’s Happening with Austin Real Estate?

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Overall, the real estate market here in Austin is very strong, but it’s been difficult to find first-time buyers affordable homes despite high affordability and low interest rates.

However, we’ve been able to find homes for people using some more creative financing methods. We recently moved into a new office in Cedar Park. What we’ve noticed since we’ve been working in this area is that there are a lot of Payday Loans, Title Loans, Cash Loans, and other loan stores popping up, and they’re all doing quite well.

I recently counted nine of these stores in the area, not counting pawn shops or the cash for gold places. I see this as an indication that the real estate market is getting a little top-heavy.

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Homes in Austin have appreciated wildly in the past few years, but it means that they’ve also gotten expensive for buyers and more and more people are using alternative methods to get loans. Banks are turning people down, so they’re then going to these emergency loan places in order to come up with money to buy a home.

This is why I think our market may have reached a top, but I don’t pretend to play the market, so I could be wrong. This is also why it’s an ideal time to sell your home if you have been thinking of doing so.

These conditions won’t last forever, so please get into contact with me if you’re thinking of either buying or selling.

 

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